WCM Investment Management LLC Purchases 2,952 Shares of UniFirst Co. (NYSE:UNF)

WCM Investment Management LLC grew its holdings in UniFirst Co. (NYSE:UNF - Free Report) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 110,646 shares of the textile maker's stock after purchasing an additional 2,952 shares during the quarter. WCM Investment Management LLC owned approximately 0.59% of UniFirst worth $21,287,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. BNP Paribas Financial Markets boosted its stake in UniFirst by 336.5% during the 1st quarter. BNP Paribas Financial Markets now owns 18,582 shares of the textile maker's stock worth $3,223,000 after acquiring an additional 14,325 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of UniFirst in the first quarter valued at approximately $693,000. Quantbot Technologies LP acquired a new stake in shares of UniFirst in the first quarter valued at approximately $479,000. M&G Plc acquired a new stake in shares of UniFirst in the first quarter valued at approximately $19,842,000. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of UniFirst by 164.2% in the third quarter. Harbor Capital Advisors Inc. now owns 8,387 shares of the textile maker's stock valued at $1,666,000 after purchasing an additional 5,213 shares during the last quarter. Institutional investors own 78.17% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on UNF. Robert W. Baird lifted their price objective on shares of UniFirst from $199.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, October 24th. StockNews.com upgraded shares of UniFirst from a "hold" rating to a "buy" rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $186.25.

UniFirst Stock Performance

UNF traded up $3.00 during trading on Monday, reaching $203.73. 47,881 shares of the stock were exchanged, compared to its average volume of 85,410. The stock's 50 day moving average price is $189.18 and its two-hundred day moving average price is $177.77. UniFirst Co. has a twelve month low of $149.58 and a twelve month high of $205.38. The stock has a market cap of $3.79 billion, a P/E ratio of 26.22 and a beta of 0.82.

UniFirst Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.69%. This is a boost from UniFirst's previous quarterly dividend of $0.33. The ex-dividend date is Friday, December 6th. UniFirst's payout ratio is 16.99%.

About UniFirst

UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States, Europe, and Canada. The company operates through U.S. and Canadian Rental and Cleaning, Manufacturing, Specialty Garments Rental and Cleaning, and First Aid segments. It designs, manufactures, personalizes, rents, cleans, delivers, and sells a range of uniforms and protective clothing, including shirts, pants, jackets, coveralls, lab coats, smocks, and aprons; and specialized protective wear, such as flame resistant and high visibility garments.